Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Canoe Financial LP

Canoe Financial LP lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 53.5% during the fourth quarter, Holdings Channel reports. The fund owned 524,531 shares of the company’s stock after buying an additional 182,807 shares during the quarter. Elevance Health makes up 2.8% of Canoe Financial LP’s holdings, making the stock its 9th largest holding. Canoe Financial LP’s holdings in Elevance Health were worth $193,499,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Raelipskie Partnership acquired a new stake in Elevance Health during the 3rd quarter worth about $26,000. PSI Advisors LLC purchased a new stake in Elevance Health in the 3rd quarter worth approximately $27,000. Eastern Bank purchased a new position in shares of Elevance Health during the 3rd quarter valued at approximately $31,000. Dunhill Financial LLC boosted its holdings in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in Elevance Health during the third quarter valued at $44,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ELV. TD Cowen lowered their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. UBS Group lowered their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Truist Financial cut their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company decreased their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $536.53.

Elevance Health Stock Down 0.3 %

NYSE ELV opened at $384.26 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The business’s fifty day simple moving average is $388.79 and its 200-day simple moving average is $468.15. The firm has a market cap of $89.12 billion, a PE ratio of 14.01, a P/E/G ratio of 1.08 and a beta of 0.84.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.29). The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.99 earnings per share. As a group, equities analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.